Ripple has just secured a major spot on the global map.
The blockchain company is now ranked the 23rd biggest private company in the world, with a valuation of $15 billion, according to CB Insights. That puts it ahead of Klarna and defense-tech firm Anduril and marks a big moment not just for Ripple, but for the crypto industry as a whole.
For a company that spent the last few years in the middle of a legal battle with the SEC, this ranking shows just how far Ripple has come and how much more it’s aiming for.
Here are the details.
The CB Insights ranking is based on market valuation, and Ripple’s entry into the top 25 is no small feat, especially considering it’s out of a list of 1,276 unicorn companies.
It’s one of the few blockchain firms to make the list, standing above Klarna ($14.5B) and Anduril ($14B), which is backed by Oculus founder Palmer Luckey.
Ripple is best known for its role in powering XRP and cross-border payment solutions.
But the company has steadily moved beyond that, growing its enterprise products and expanding into global markets.
Topping the list is SpaceX, with a $350 billion valuation and nearly $948 million in Bitcoin on its books. ByteDance and OpenAI follow close behind, each valued at $300 billion.
Ripple isn’t the only crypto firm on the list.
OpenSea, Bitmain ($12B), and KuCoin ($10B) also feature. But Ripple leads the pack when it comes to blockchain-based financial infrastructure and that’s what sets it apart.
Ripple’s rise is a result of a few major developments that have strengthened the company’s foundation. Here’s what’s working in its favor:
Not anytime soon.
Ripple CEO Brad Garlinghouse has ruled out any plans for an Initial Public Offering (IPO) in 2025. Speaking at the CfC St. Moritz conference, a well-known gathering for leaders in blockchain and digital assets, Garlinghouse made it clear that going public isn’t on the table this year.
President Monica Long confirmed that Ripple has “plenty of liquidity” and doesn’t need to raise money through an IPO right now. The focus, for now, is on growth and not going public.
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